Bank Repossession Villa for Sale on the Costa del Sol

Bank Repossession Villa for Sale on the Costa del Sol -

Presently there are very few bank repossessions available on the Costa del Sol that are worth buying but this detached villa located in Mijas Costa under 10 minutes walk to the beach is priced to sell. Bank Repossession Villa for Sale on the Costa del Sol - Fantastic price for a one-level villa located just 10 minutes walk to the beach.

This renovated villa offers 3 double bedrooms, 2 bathrooms, spacious lounge and a kitchen. You have a large 500-meter garden to enjoy the all-day sunshine and there is ample room to put in a pool and this can be done easily for about €15,000. There is a large roof terrace with lovely views. This villa is located just 5 minutes drive into La Cala de Mijas and 5 minutes into Fuengirola in the opposite direction.

Nowadays the banks are the owners of a big part of the houses for sale in Spain. These repossessed houses come from developers’ bankruptcies and people that can not afford the payment of their mortgages. The houses repossessed are products highly sought after by experienced investors in the property market in Spain. But anyone can buy a house repossessed. If you are looking for a bargain is a good option to take a look at the repossessed properties owned by the bank.

Bank Repossession – Repossession Process

The foreclosure process in Spain, that ends with the house repossessed by the bank, begins when the mortgage debtor has fallen in arrears after several months without paying his monthly mortgage obligation. The repossession by the bank follows a legal procedure that involves high costs for the debtor. Usually, once legal proceedings are begun, to the debt is added 30% more as of late payment interest, legal costs and expenses. In this period, before it begins the procedure for repossession by the bank.

First 4 Property have keys available for easy viewings so please contact us for immediate viewing. We also have other villas available in Mijas Costa so please click on the link below.